The Ministry of Uzbekistan and the French Development Agency (FAR) signed a loan agreement for 55.8 million euros with a loan repayment period of 20 years. This was reported by the information service of the Ministry of Energy, Trend reports with reference to TASS.
46.5 million euros will be allocated for the construction of three new hydroelectric power plants, and 9.3 million euros – to improve the safety of the Charvak hydroelectric power station (the total cost of the project is 33.95 million euros).
Within the framework of investment projects, it is planned to carry out construction and installation work in the amount of 11.1 million euros and the supply of technological equipment in the amount of 26.9 million euros. The feasibility study of the projects was developed by a consortium of ISL, IED and R-plus consultants at the request of the PAR. New small hydroelectric power plants are planned to be commissioned in 2023.
The implementation of the project will make it possible to generate 51.2 million kWh of cheap and environmentally friendly electricity, create 15 jobs, increase the share of hydropower and save fuel resources, the Ministry of Energy said.
The hydropower industry is developing on the basis of a program approved by the President in May 2017. In accordance with the program, the “Project Factory” mechanism was introduced to continuously launch new projects.
This year, the total cost of the Project Factory is $ 1.57 billion. 23 investment projects with a capacity of 907.5 MW are under preparation. In addition to the funds of the PAR, the projects will attract $ 60 million from the Asian Development Bank and 80 million euros from the European Bank for Reconstruction and Development, as well as direct investments in the framework of public-private partnerships. This will diversify the sources of funds and technologies.
This year, within the investment program, 10 projects are being implemented for $ 1.56 billion, attracting $ 500 million from financial institutions in China and Russia.
